More economic good news?

Discussion in 'Current Events' started by Yurt, Oct 8, 2010.

  1. Yurt
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    Yurt Gold Member

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    Economy loses 95K jobs due to government layoffs

    A wave of government layoffs in September outpaced weak hiring in the private sector, pushing down the nation's payrolls by a net total of 95,000 jobs. The unemployment rate held at 9.6 percent last month, the Labor Department said Friday. The jobless rate has now topped 9.5 percent for 14 straight months, the longest stretch since the 1930s.

    http://seattletimes.nwsource.com/htm...useconomy.html

    i'm sure the lefties and obama will blame the gop or bush
     
  2. Two Thumbs
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    Two Thumbs Platinum Member

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    Government layoffs are a good thing. sorta.

    People lost their job, but our tax money can go to something else.
     
  3. Meister
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    Meister VIP Member Supporting Member

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    Certainly is a nail in the coffin for the democrats in next months elections.
    The lack of effort from this administration is coming back to bite them in the ass.
    He put his ideology with healthcare over the economy and the high unemployment numbers.
    My opinion is that he did that to help push his healthcare through, which backfired. I think he thought that with that many people out of work and with no healthcare, they would run to his healthcare.
     
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  4. Capitalist
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    Capitalist Jeffersonian Liberal

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    Democrats are actually using this as a reason to vote for them?
    :lol:

    The real number: 17.1% — U6 on table A-15 right here … Table A-15. Alternative measures of labor underutilization Unemployment from the great depression era ran 15-20% so you can see how today’s 17.1% compares.


    [​IMG]
     
    Last edited: Oct 8, 2010
  5. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Government and Teacher layoffs

    Reason for the Conservatives to celebrate
     
  6. 2Parties
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    2Parties Senior Member

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    Government lay-offs are extremely good news. It's the best thing the government could do to stimulate the economy.
     
  7. Oddball
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    Oddball BANNED Supporting Member

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    Well, you losers could junk stupid bureaucracies like the Department of Energy, but it's readily apparent that you'd rather piss and moan about teachers and fire fighters.
     
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  8. pinqy
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    pinqy Gold Member

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    Ummm, no. The measures used for the Depression are closer to the U-3...the official measurement. The U-6 (and U-5) include the "Marginally Attached" a group that was not defined, let alone used, until 1994. And part time workers have NEVER been used in the UE rate. So you can't compare the U-6 to the Depression as if they were measuring the same thing, which they definitely are not.
     
  9. Toro
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    Toro Diamond Member

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    Michael Darda, economist of MKM Partners, estimates that if the U-6 method of measuring unemployment and underemployment were in place during the Depression, the rate of unemployment would have been 44%. Comparing today to the Great Depression is specious.
     
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  10. Capitalist
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    Capitalist Jeffersonian Liberal

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    Nobody believes them anymore.
    Hahahaha, the joys of central planning...........
     
    Last edited: Oct 8, 2010

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